Vendor-friendly card solutions extend the B2B value chain

Innovation is entering the B2B space, providing businesses with simplified and efficient payment solutions.

These innovative B2B payment solutions are increasingly having a positive impact on both parties. Take the evolution of B2B card issuance as an example.

“We are really at the beginning of this chapter,” Jill DochertySenior Vice President of Publishing you will not, told Pimmz. “We are already accredited to these programs, but we are working hard to launch our first MVP in Europe. It is important for our merchants to extend the payment process, not only from an acquiring perspective, but also to help These merchants pay suppliers and handle accounts payable.

The importance of benefiting from B2B card issuance Both Buyers and suppliers underpin its appeal and scalability. Historically, supply support has been a barrier That B2B Problems faced by businesses when adopting B2B card payments.

“In the B2B world, supplier support has always been a barrier,” Docherty said. “There’s a barrier to suppliers not accepting cards, so businesses can’t pay with cards.”

However, the ecosystem continues to evolve, virtual cards become more mainstream, and enterprise resource planning systems (e.g. sap and wise man enable them to use.

“The ecosystem has grown…and we're now starting to see a rising tide in terms of vendor support,” Docherty said, noting that “there's a lot of demand from buyers to pay with cards, but we're not doing that yet.” Sellers have similar receptiveness.

Let buyers and suppliers embrace B2B payments

As the B2B payments landscape continues to evolve, giving businesses the tools they need to succeed means integrating Series of Future fit considerations. One is fraud detection and prevention, which is the highlight area of ​​B2B cards.

Docherty emphasized the security features inherent in virtual cards, such as one-time use parameters, transaction value settings, and one party representing the other party to the transaction. These features inherently automatically reduce fraud and risk while ensuring high authorization rates and successful card acceptance.

“We want to get the highest possible authorization our Release products as much as possible,” she said. “…Through our technology and solutions in the acquisition space, we were able Take advantage of this capability and repurpose it into the use cases and opportunities we publish.

When discussing the dynamics of B2B card issuance, Docherty noted the importance of understanding merchant needs from an acquiring perspective. She explained that she sees opportunities in verticals such as B2B travel wholesale payments and expense management. For example, in the travel industry, online travel agencies can use virtual cards to pay suppliers without having to pre-fund the transaction, instead using funds from their merchant acquiring account.

Expense management is another critical area, especially for businesses with growing employee numbers and travel needs.

Docherty explains that the importance of expense management depends on the size of the company.

“For smaller organizations, they may use consumer products and manual reconciliation,” she said. “But as they grow, coordinating spending becomes more important.”

Opportunity to provide payment vouchers to employees to facilitate better expense tracking and management.

Leveraging Ecosystem Advantages to Overcome B2B Payment Challenges

Still, despite the rise of virtual cards, plastic cards still have their place in the payments ecosystem.

“Plastic cards are vibrant because we have an omnichannel experience,” Docherty said.

Physical cards offer benefits such as loyalty programs and, in some cases, a better customer experience.

“It’s a cool thing to have a plastic card,” she said, emphasizing the continued relevance of physical cards in an increasingly digital world.

Looking ahead, she said she envisions a future where the lines between different payment types are blurred and the focus is entirely on facilitating seamless transactions for businesses.

“The blurring of lines is where innovation comes from,” she said, stressing that the need for cost-effective and user-friendly solutions will continue to drive the development of different payment types.

One of Nuvei's unique value propositions is its dual role as a European issuer and acquirer. Docherty explained that she believes this dual role can enhance the company's payments experience.

“The issuance services we provide help our merchants by providing revenue streams, seamless fund flows and a tailored customer experience,” she said.

This integrated approach enables Nuvei to extend the payments value chain, benefiting merchants through enhanced working capital and liquidity savings.

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